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The OPEC Fund
for International
Development
  1. Operations
  2. Lae Port Development project

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Lae Port Development project

Papua New Guinea

Borrower Papua New Guinea
Financing Type Public Sector
Instrument Project Loan
Focus Area Transportation
Approved 04.12.2007
Signed 04.11.2008
Status Completed
Loan Administrator ADB
Executing Agency Independent Public Business Corporation (IPBC)
Co-financiers ADB, GOVERNMENT, JFPR
OPEC Fund Contribution (US$m) 6.00
Total Project Cost (US$m) 148.07

Lae Port is PNG’s largest and busiest port, handling more than 60% of the total international and coastal trade. Cargo volume has soared over the years, and the facility is no longer able to keep pace with the present demand.

The project will construct a 700 x 400 m tidal basin located northwest of the existing port, and a 240 m-long multi-purpose berth. The new infrastructure will enable Lae Port to handle cargo traffic more swiftly and efficiently and accommodate larger ships. Additionally, around 2,900 inhabitants in the project area presently living under extremely impoverished conditions will be resettled and provided with a wide range of social services.

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